Share-Based Compensation Expense

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Share-based compensation expense for stock options, restricted stock awards and restricted stock units for the three months ended June 30, 2022 and 2021 was $1,081 and $754, respectively, and $1,462 and $1,196 for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, there was $13,206 of unrecognized compensation cost related to stock options which is expected to be recognized over the remaining vesting periods, with a weighted-average period of 3.3 years.

Stock Options

The Company grants options to certain employees that will vest over a period of one to four years. A summary of stock option award activity for the six months ended June 30, 2022 was as follows:


Options	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term

Outstanding at December 31, 2021	9,737,292	$	1.40	7.2
Granted	22,304	1.95
Exercised	(1,747,085)	0.24
Cancelled or forfeited	(839,903)	3.73
Outstanding at June 30, 2022	7,172,608	$	1.39	6.9
Exercisable at June 30, 2022	5,992,802	$	0.73	6.6

The aggregate intrinsic value of stock options outstanding as of June 30, 2022 was $5,340. The aggregate intrinsic value of stock options exercisable as of June 30, 2022 was $5,108. Cash received from options exercised for the six months ended June 30, 2022 and 2021 was $433 and $23, respectively.

Restricted Stock Awards

The fair value of restricted stock awards is estimated by the fair value of the Company’s Common Stock at the date of grant. Restricted stock awards activity during the six months ended at June 30, 2022 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value Per Share

Non-vested, at December 31, 2021	446,332	$	0.24
Granted	—	—
Vested	—	—
Cancelled or forfeited	—	—
Non-vested, at June 30, 2022	446,332	$	0.24

Restricted Stock Units

The Company grants restricted stock units to certain employees that will vest over a period of four years. The fair value of restricted stock unit awards is estimated by the fair value of the Company’s Common Stock at the date of grant. Restricted stock units activity during the six months ended at June 30, 2022 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value Per Share

Non-vested, at December 31, 2021	604,433	$	6.06
Granted	6,343,394	1.40
Vested	(97,572)	6.64
Cancelled or forfeited	(195,797)	6.05
Non-vested, at June 30, 2022	6,654,458	$	1.61